Swift
5.92 Lakh*
Ishita Sharma 2024-12-16
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The price increases are mainly due to higher costs for materials, and the list includes mostly everyday car brands along with a few luxury ones.
Car manufacturers usually offer discounts on their cars at the end of the year. However, this is also when many big brands announce price increases for the next year. So, if you're thinking about buying a new car, now could be a good time, as both regular and luxury carmakers will raise prices starting in January 2025.
Here’s a list of all the brands that have already announced price hikes for next year.
|
Car Brands |
Price Increase |
|
Maruti Suzuki |
Up to 4 percent |
|
Tata Motors |
Up to 3 percent |
|
Mahindra |
Up to 3 percent |
|
Hyundai |
Up to Rs 25,000 |
|
Kia |
Up to 2 percent |
|
MG Motors |
Up to 3 percent |
|
Mercedes-Benz |
Up to 3 percent |
|
BMW |
Up to 3 percent |
|
Audi |
Up to 3 percent |
Maruti was one of the first to announce a price hike on all its models, including those sold through Arena and Nexa dealerships. The country's top carmaker has revealed a price increase of up to 4 percent, depending on the model. Maruti said the price hike is necessary to offset the rise in input costs and operational expenses. Maruti currently offers 17 models in its lineup, starting with the Alto K10 priced at Rs 3.99 lakh (ex-showroom) and going up to the Invicto MPV, which is priced at Rs 28.92 lakh (ex-showroom).
Tata Motors recently announced a price hike of up to 3 percent across its entire range, including both EVs and ICE-powered models. The increase will vary depending on the model and variant. The company mentioned that rising input costs and inflation are the main reasons for the price hike. Tata currently sells 13 models, including 5 EVs – Tiago EV, Tigor EV, Punch EV, Nexon EV and Curvv EV.
Starting next year, Hyundai will raise prices across its entire range. The price increase will be up to Rs 25,000, depending on the model. The Korean carmaker explained that the hike is due to unfavorable exchange rates and rising logistics costs.
Hyundai India's portfolio, priced between Rs 5.92 lakh and Rs 46.05 lakh (ex-showroom), includes models such as the Grand i10 Nios, Creta SUV, Verna sedan, and Ioniq 5 EV.
Indian SUV maker Mahindra is set to raise the prices of all its models by up to 3 percent starting in January 2025. The price increase will vary depending on the model. Mahindra explained that the hike is due to higher operational costs, including increased commodity prices and other manufacturing expenses. Recently, the company made headlines with the launch of two new EVs – the XEV 9e and the BE 6. Other SUVs in Mahindra's portfolio include the Thar Roxx, Scorpio N, XUV700, and XUV300.
Kia has followed its sister brand in announcing a price increase of up to 2 percent across its entire lineup. Similar to other car manufacturers, the main reasons for the price hike are rising input costs and higher supply chain expenses. Kia is set to launch the Syros in India on December 19. Apart from that, it retails six models, including the Sonet, Seltos, and the flagship EV9.
MG Motor India will also raise the prices of its models by up to 3 percent. The price increase is driven by rising input costs and other external factors. The automaker offers seven models, including the Comet EV, Windsor EV, Astor, Hector, Hector Plus, ZS EV, and the Gloster, with prices ranging from Rs 6.99 lakh to Rs 41.05 lakh (ex-showroom).
In the premium car segment, Mercedes-Benz has confirmed that its cars will become more expensive by up to 3 percent starting from the first day of next year. The German carmaker explained that the price increase is due to increased pressure on their cost structure, caused by rising material costs, fluctuating commodity prices, higher logistics expenses, and inflation. Mercedes offers 24 models in India, including 5 EVs such as the EQS sedan, EQE SUV, and EQS SUV.
BMW is the next luxury carmaker to announce a price hike of up to 3 percent across its entire lineup, effective from January 1, 2025. While BMW hasn't given a specific reason, it has confirmed that the increase will also apply to its locally assembled models, including the 5 Series LWB, 7 Series LWB, X7, and M340i.
Audi has joined its German rivals and confirmed that, effective January 2025, the prices of its entire lineup will increase by 3 percent. Audi locally assembles models like the A4, A6, Q3, Q5 and Q7 SUV. It must be noted that cars like A5 Sportback, Q8 SUV and e-Tron GT are brought through import route. You can also expect other brands like Toyota, Honda, Skoda, and Volkswagen to announce price hikes for 2025 in coming weeks.
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